Friday, November 07, 2008

Quick Overview

  • U.S. unemployment rate rose from 6.1% to 6.5% in October -- the highest rate in 14 years. Non-farm payrolls declined 240,000. The Labor Department also revised September's numbers from minus 159,000 to minus 284,000.

  • Canada’s unemployment rate rose from 6.1% to 6.2%.

  • U.S. wholesale sales were down 1.5% in September ,inventories were fell 0.1%.

  • The National Association of Realtors said U.S. pending home sales fell 4.6%

  • Korea reduced its interest rate from 4.25% to 4.00%.

  • General Motors used $6.9 billion in cash in Q3 and may fall below the minimum it needs to operate before the end of this year.

  • Ford burns $7.7 billion in the quarter.

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